Topic: How to crowdfund Bitcoin for a project? (Read 1472 times)

I am not an expert in the field on how to get finance for working on your project full time. My recommendation, you should spend some time here to build a strong reputation or provide more details on your project with technical documents or follow the process to start an ICO.

As someone who has participated and helped alot of crypto crowdfunding projects, I recommend you have a solid technical plan and business model before looking for money. 

Well, it is because once you give bitcoin to someone you will never get it back.
And with FIAT crowdfunding services have this nice feature when minimum goal is not reached every contributor will receive his money back.
Plus, our community already seen so many scams that any project not backed by known, reputable and serious individuals is branded as potential scam right away.

Thanks everyone for the feedback. I wanted to get a good feel for how this is done as I have only ever explored Kickstarter et al.
I am also deep into Angel and VC investments but this too requires a fair amount of work. (something I am not shy of at all but frustrated with because it seems I am always just one step out of reach)

Thanks all, will keep you posted on progress.

but this is an obvious scam. not smart enough

there is alot of people interested in ICOs and its the really smart ones that are the ones creating them.

You might be better looking for investors on angel investor sites.
People on here look for green trust or you having known projects before they will put money in.

Crowdfunding with Bitcoins is hard. Seems like it never got so successful and popular like crowdfunding in fiat. Maybe also because of Bitcoin volatility. There are only few web pages that are offering this service but it takes long to get funds and it's not very certain that you will achieve the goal. Try with collateral loan.

You still have to provide investors a good business plan.

having escrow is nice, but investors want an ROI.

Could you reply my PM?

Hi Vod,

Thank you for your reply!

This already got the creative juices flowing this morning in terms of trust so I just wrote to one of the guys at Bitx.co (South Africa's first Bitcoin company) to find out if they might play middle man as an Escrow system to hold the Bitcoin for investors until certain milestones are reached

• Milestone 1: Complete website (about 70% complete)
• Milestone 2: Complete pitchdecks for investors (90% complete)
• Milestone 3: Repayment to BitcoinTalk investors once investors (above) are on board

Would that be a possible solution to this problem? I have the majority of the presentation together which I will share in due course. I first wanted to put the feelers out there to see how this works.

Also Vod, in terms of payment back, how do the terms for this normally work (around Bitcoin)?

Many thanks!

James,

Since you are a newbie, coming here only for free money, you're going to have to make a pretty good presentation before people trust you.  You'll also be expected to put something that is valuable to you as collateral, so we know you're not just living off our dime for three months.  We'll expect to be paid back.

Hello everyone,

We are working on a project that its core teaches the value of ownership and I would like to raise Bitcoin so that we can move out of our day to day job and only focus on this project.

In South Africa, we have an incredible problem with corruption, crime and lack of accountability and this project will use technologies like Bitcoin, Blockchain and eCommerce to get around many of these problems.

I have spent an enormous amount of time working on building our network first so that when we go live, we have channels that can talk about our project.

Once we have this project released in South Africa, I intend for the project to grow beyond our borders so that it can help many other countries in the same situation.

Ideally, I am looking for just enough funding to spend all my time completing our pitch decks and polishing the release of Version 1 of our project but this is tricky when you are running another business that is essentially the current funding for this project.

I need 3 months worth of investment to polish up our project and finish our pitch decks so that we can find additional investors. Once the project goes live, it will have a subscription based model built into it that will then start generating its own money plus there 2 other revenue streams we're working on to make it self sustaining.

Our bold statement, "What Elon Musk means for the environment, we will be for education"

Appreciate any input everyone might have.

Many thanks
James